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AR HB1307
Bill
Status
3/18/2025
Primary Sponsor
Mindy McAlindon
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AI Summary
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Prohibits Arkansas government institutions and state-supported colleges/universities from considering ESG-related goals when making investments, selecting service providers, or voting shares for institutional funds
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Bars service providers from pursuing goals related to: greenhouse gas emission reductions, diversity-based corporate board targets, abortion/gender reassignment access, firearm restrictions, or advancing related international agreements
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Exempts institutions from these restrictions if compliance would cause "materially negative financial impact" on investment performance, provided they document alternatives from at least 3 service providers and publicly post notice seeking compliant providers
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Requires annual reevaluation of any exemption granted due to financial impact, with public notice posted within 60 days of selecting a non-compliant provider
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Exempts special gifts where donor intent contrary to these requirements was expressed before January 1, 2024; approved March 18, 2025
Legislative Description
To Ensure Responsible Fund Management; And To Amend The Uniform Prudent Management Of Institutional Funds Act (2006).
Last Action
Notification that HB1307 is now Act 308
3/18/2025